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A variation of the term, teabagging popularized in Nintendo online shooter Splatoon/Splatoon 2 by community.

"Squidbagging" is to switch rapidly from kid to squid form, acting as a taunt to the player that was "splatted".
Person 1: *splats somebody with Slosher* *Proceeds to Squidbag*
Person 2: Bruh.
Squidbag by ToothPizza May 27, 2019

squidbagging 

A taunt in the Splatoon series dong by switching from kid to squid multiple times after splatting your opponent.
The speed hack version is used to move faster than normal.
Seriously? I just got squidbagged! Squidbagging is the WORST taunt and it is annoying AF!
squidbagging by hyruleteam1992 January 29, 2018

squidbibble 

when a girl gets horny, and wet while sitting down with no panties on, then as she stands up the wetness has been deposited on the seat, the moisture she leaves behind is a squidbibble.
After sitting and rubbing up next to me on a leather couch, this girl gets up and leaves a squidbibble on the cushion
squidbibble by northtron November 2, 2010
The act of repeatedly squishing (or squibbing) up and down.

The term was first coined by fans of Amaris Yuri, an english VTuber, and associated with a goofy-looking emote of the VTuber squishing up and down.
"someone being a bitch?
squibby on them.
someone threatening you and your family?
squibby on them.
family member died?
squibby on them.
dont care didnt ask?
squibby on them.
love them?
squibby on them.
hate them?
squibby on them."
-Amaris Yuri
Squibby by Amaroos May 30, 2022